"The visit (to India) presents an opportunity to exchange views on recent economic developments, India's prospects and its role in the global economy," the IMF said in a statement.

In India for two days –- March 16 and 17 -- Lagarde will meet with Prime Minister Narendra Modi and senior officials including Finance Minister Arun Jaitley and Reserve Bank of India (RBI) Governor Raghuram Rajan.

The IMF chief will also interact with representatives from other sectors of society including business, women leaders, academics and students, the statement said adding, "In addition, she will give a speech at Lady Sri Ram College in New Delhi and participate in a public event hosted by RBI in Mumbai."

Lagarde would then proceed to China where she will meet with the top Chinese leadership and senior officials, including People's Bank of China Governor Zhou Xiaochuan and Finance Minister Lou Jiwei from March 19 to 23.

The IMF managing director will discuss the latest developments in the global economy, China's ongoing reform efforts and collaboration between the IMF and China, a media release said.

She will have a townhall meeting with students at Fudan University in Shanghai and speak at the opening ceremony of the 2015 China Development Forum (CDF), as well as on a CDF panel on "Sound Monetary Policy in the New Normal" in Beijing, the statement said.